Dubai Investments reports 'pleasing 2009 results'

27/01/2010 - Dubai Investment News
Dubai Investments reports 'pleasing 2009 results'
Posted by Neil King

Dubai Investments, the largest investment company listed on the Dubai Financial Market, said its 2009 results are pleasing and above expectations.

The firm recorded a net profit of AED 963 million for 2009, which included net profit for the fourth quarter of AED 141 million, which compares favourably with a loss of AED 87 million in the corresponding period for 2008.

Consolidated total income for the year stood at AED 3.67 billion.

Managing director Khalid Kalban said: "Dubai Investments' strong performance was primarily due to its diversified investment base, with revenues coming from three main sources - industrial ventures, financial investments and real estate."

He added that the firm is in a strong liquidity position and that the fundamentals of the business continue to remain solid.

Dubai Investments is now planning to invest AED 500 million over the course of 2010, which will include investment in new projects as well as an expansion of existing ventures.
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